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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 9, 1999
WAXMAN INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
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Delaware 0-5888 34-0899894
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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24460 Aurora Road, Bedford Heights 44146
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (440) 439-1830
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NOT APPLICABLE
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
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On March 9, 1999, Waxman Industries, Inc. issued the press
release (the "Press Release") annexed as an exhibit hereto. The Press Release is
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibits.
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99.1 Press Release of Waxman Industries, Inc. dated
March 9, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WAXMAN INDUSTRIES, INC.
(Registrant)
Dated: March 16, 1999 By: /s/ Mark W. Wester
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Mark W. Wester
Vice President- Finance
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INDEX TO EXHIBITS
Exhibit No. Page No.
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99.1 Press Release of Waxman Industries, Inc.
dated March 9, 1999
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Exhibit 99.1
WAXMAN NYSE: WAX
Waxman Industries, Inc. N E W S R E L E A S E
FOR ADDITIONAL INFORMATION, CONTACT: At The Company:
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Armond Waxman, President
440-439-1830
Mark Wester, Vice President-Finance
440-439-1830
FOR IMMEDIATE RELEASE
Waxman Industries, Inc. Announces Notification
of Suspension from NYSE
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BEDFORD HEIGHTS, OHIO -- March 9, 1999 -- Waxman Industries, Inc.
(NYSE-WAX), a leading supplier of specialty plumbing and other products to the
U.S. repair and remodeling market, reported that the New York Stock Exchange has
notified the Company that its Common Stock will be suspended from trading on the
New York Stock Exchange before the opening on March 22, 1999. Armond Waxman,
President and Co-Chief Executive Officer, stated "Given the significant
liquidity provided to the Company by the sale of U.S. Lock and the availability
of additional assets to further our deleveraging efforts, we were surprised by
this action taken by the New York Stock Exchange. We believe that we should be
able to have our common stock listed on another exchange once we complete our
deleveraging efforts. In the interim, the Company will seek market makers for
its stock on the Over The Counter Market."
CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
Statements on this Press Release may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 that
are based on the beliefs of the Company and its management. When used in this
document, the words "anticipate", "believe", "continue", "estimate", "expect",
"intend", "may", "should", and similar expressions are intended to identify
forward-looking statements. Such statements reflect the current view of the
Company with respect to future events and are subject to certain risks,
uncertainties and assumptions, including, but not limited to, the risk that the
Company may not be able to implement its deleveraging strategy in the intended
manner, risks associated with currently unforeseen competitive pressures and
risks affecting the Company's industry, such as deceased consumer spending,
customer concentration issues, and the effects of general economic conditions.
In addition, the Company's business, operations and financial condition are
subject to the risks, uncertainties and assumptions which are described in the
Company's reports and statements filed from time to time with the Securities and
Exchange Commission. Should one or more of those risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein.
WAXMAN INDUSTRIES, INC. 24460 AURORA ROAD BEDFORD HEIGHTS, OHIO 44146
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